Market-oriented reform and opening-up will improve pr

roductivity in the service sector, which is an important thing that China is focusing on to stabilize economic growth,” Zhu said.

Chen Yulu, a vice-governor of the PBOC, also supported a “full-scale” opening of the financial sector. In the future, foreign invest

ors are welcome to conduct all forms of financial business in China, excepting those being named on a neg

ative list, and authorities are researching a new regulatory system, Chen said at the forum on Saturday.

Li Daokui, director of the Academic Center for Chinese Economic Practice and Thinking at Tsing

hua University, said China “should be more confident” in accelerating opening-up of its financial sec

tor, which will help global investors seize numerous opportunities in the Chinese market.

Domestic financial institutions are now capable of engaging in fiercer competition with global peers as their serv

ice abilities in many aspects, such as banking and insurance, have improved a lot over the past years, Li said.

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Under the trade pressure, the world’s second-largest econo

onomy is accelerating restructuring reform and shifting from an export-dominated growth model to a more services-driven model, they added.

“The United States escalated trade tensions, but it cannot solve any problem. This causes volatility and sluggishness in global financial markets an

d hurts the global economy,” said Guo Shuqing, the People’s Bank of China’s Party secretary and also head of the China Banking and In

surance Regulatory Commission. His keynote speech was delivered by a commission spokesman at a forum on Saturday.

Impact on the Chinese economy will be very limited, said Guo. “Chinese fi

nancial markets, although they were excessively affected by trade tensions last year, are un

likely to be hit more dramatically going forward, as financial resilience is strengthening.”

The huge domestic consumer market in China will digest most of the un

salable exports, and many of China’s exports will also shift to other foreign markets. The US will con

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ic importance to Huawei. “TSMC produces most of H

uawei’s chips. Only with its cooperation is it possible for Huawei to have a Plan B in stocking

in-house processors in order to offset fallout from the US ban on its access to US chips,” Xiang said.

He said the move by Panasonic also showcases that the Japanes

e tech company is not willing to surrender to political pressure from Washington, after ear

lier reports that it had stopped shipments of certain components to Huawei. The firm bought $6.3 billion wort

h of products including batteries and electronic components from Panasonic in 2018, according to Nikkei Asian Review.

United Kingdom-based mobile operator EE said on We

dnesday that its 5G network in the UK would rely on equipment made by Huawei.

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mers eat at a hotpot restaurant in Wuhan, capital of Hubei

In addition, a thread on Weibo, China’s Twitter-like comments platfor

m, titled “eating alone” contains 226,000 posts and has garnered 290 million hits.

In 2017, WithEating Magazine, a Chinese foodie journal, started its Eati

ng Alone channel on Bilibili, a popular video-sharing website. To date, the channel, wh

ich has 52 episodes explaining how to prepare meals for one, has attracted more than 200 million hits.

In February, the magazine published a book of the same name, listing 65 recipes for dishes ranging fr

om desserts to foreign cuisine, such as roasted ribs, the Korean favorite bibimbap and seafood curry.

To many people’s surprise, it became a best-seller. “We didn’t expect the book to sell so we

ll. We didn’t print enough copies initially,” the magazine said on its Weibo account last month.

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Moreover, China’s economic development in the past three de

 decades has prompted a huge rise in urbanization, which has see

n large numbers of unattached young people from rural areas move to large cities in sea

rch of work. Their work-dominated lifestyles mean few have friends to share meals with.

To feed this massive market, catering companies have started providi

ng more options tailored to single customers. Meituan-Dianping, a popular food del

ivery company, told the Financial Times that 65 percent of its orders come from unmarried customers.

On food delivery platforms, many restaurants offer meal deals specifically for singletons. Pizza Hut provides 15-centimeter, o

ne-person bases, while stir-fry restaurants offer reduced portions or meal deals consisting of just one or two dishe

s and a bowl of rice, compared with traditional meals that must contain at least three main dishes plus a soup.

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The panda is a rare all-white individual in wild pandas, whi

ch showed that the albinism genes exist in the wild population of giant pandas in Wolong, he said.

“The panda looked strong and his steps were steady, a sign that the genetic mutation may not have quite impeded its life,” said Li.

Increasing access to mobile Internet technology has encouraged more Chinese tourists to share travel experiences online, according to a new report.

Data from TongCheng-eLong, a leading online travel service platform in China, showed that 60.8 percent of its users had sha

red their travel experiences online in the past year, mainly by posting photos featuring local scenery or cuisine, said the

report released by TongCheng-eLong and Chinese travel services and social networking platform Mafengwo.

Shooting a minute or two of mobile phone videos on the move has become a new trend among Chinese travellers, the report said.

The report said 42.3 percent of the platform’s users had shared their travel moments through short videos.

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Huawei’s workers tell their stories of resilience, solidarity

A public letter titled “We, the Huawei people” from telecom giant Huawei detailing its employee

s’ personal stories of solidarity and resilience amid restrictions from the United States, went viral on Chinese social media on Friday.

The letter was published by Xinsheng Shequ, Huawei’s official employee community platform, on i

ts Sina Weibo account on Thursday. As of Friday afternoon, the letter has received more than 190 million reads.

Chinese netizens have flooded the comment sections of Huawei’s social media platf

orms as well as news outlets that have reported on the letter, many leaving the message: “Huawei, fight on.”

The letter is a collection of short stories submitted by anonymous

Huawei employees depicting how their lives have subtly changed after the US last week put H

uawei and its affiliates on an “Entity List”, which restricts the sale or transfer of US technologies to the company.

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The spike in trade tensions has already rattled financial

markets. The yuan has weakened by 2 percent to its lowest level since January.

“We expect stock markets and the yuan to remain under pressure in the near term, though they c

ould be supported by an expected stabilization in the domestic economy later this year,” Wu said.

Sheng Songcheng, the former director of the Survey and Statistics Department in the Peo

ple’s Bank of China, said the truth is that imposing more tariffs on Chinese goods has not yet reduced US trade deficits.

The long-lasting US trade deficits in goods was formed from the US

dollar’s international status, its domestic low deposit rate and the US position in the glo

bal value chain, and those factors cannot be changed by protectionist measures, Sheng said.

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The two countries should make further contributions t

 to promoting a new type of international relationship and building a community with a shared future for mankind, Xi said.

Mourao extended President Bolsonaro’s greetings and best wishes, and delivered a letter from the Brazilian president to Xi.

The new Brazilian administration led by Bolsonaro attaches great importance to relations with China, Mourao said.

Brazil speaks highly of China’s important contributions to promot

ing global economic growth and considers China to be a reliable and stable partner, he said.

Brazil would like to connect the country’s investment partners plans

with the Belt and Road Initiative and expand cooperation with China in areas incl

uding trade, technology and innovation, he said, adding that Brazil welcomes investment from China.

Mourao expressed gratitude for China’s support for Brazil’s hosting of the meeting of BRICS leaders. Brazil would like

to enhance coordination with China under multilateral frameworks including BRICS, the WTO and the G20 to maintain multilateralism and t

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Xi highlights independent IPR, core technologiesirs a meet

Meeting in Nanchang eyes achieving new advances in development of country’s central region

President Xi Jinping stressed the significance of owning indep

endent intellectual property rights and core technology while visiting a producer of rare

earth, which he hailed as an “important strategic resource”, in Gan­zhou, Jiangxi province, on Monday.

Xi, also general secretary of the Communist Party of Chin

a Central Committee and chairman of the Central Military Commission, visited the JL MAG Ra

re-Earth Co immediately after he arrived in Jiangxi for the three-day inspection tour.

At the company, Xi learned about its production and operation, the r

are earth industry’s development in Ganzhou, the development and application of the co

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